1836.

LAWS OF MARYLAND.

CHAP. 198.

ment for the space of six months after the same shall
have become payable, this act, and the act to incorpo-
rate the Hamilton Bank, to which this is a supplement,
shall be forfeited and thenceforth be deemed null and
void.

Consideration
for the State's
right to sub.
sciibe

SEC 4. And be it enacted, That the president and di-
rectors of the said bank, within six months after the
organization of said bank, shall pay to the Treasurer
for the Western Shore, for the use of this State, the
sum of four thousand dollars, and in consideration
thereof, the State of Maryland hereby sells and trans-
fers to the said bank, the right of the said State to
subscribe for fifty thousand dollars of the capital stock
of said bank.

Bonus payable

SEC. 5. And be it enacted, That the said corpora-
tion, or the president and directors thereof, shall, in
consideration of the corporate privileges hereby grant-
ed, pay to the State of Maryland, in addition to the
twenty cents in the hundred dollars, and the sum of
four thousand dollars, as provided for in the preceding
sections, a bonus of nine thousand three hundred and
seventy-five dollars, the said payment to be made to
the Treasurer for the Western Shore, in three equal an-
nual instalments, commencing for the first payment
with the thirtieth day after the said bank shall have
gone into operation, which payments when made shall
be accepted as a bonus on the sum of three hundred
thousand dollars subscribed to the capital stock of said

Additional bo-

nus

bank, and the bank, or its president and directors,
shall pay to the said Treasurer, a further bonus on the
capital which the said bank shall at any time have sub-
scribed, over and above the sum of three hundred thou-
sand dollars, at and after the rate of three dollars and
seventy-five cents on each hundred dollars thereof, and
which further bonus shall be paid on the first day of
Januarynext after such additional capital shall have
been subscribed to said bank.

Residence re-
pealed

SEC. 6. And be it enacted, That so much of the act
to which this a supplement, as restricts the president
and a majority of the directors from residing within
the city of Baltimore, and all other parts of said act
as are inconsistent herewith, be and the same are here-
by repealed.